• The Journal of Society for e-Business Studies
• /
• v.7 no.2
• /
• pp.55-68
• /
• 2002

Internet group buying systems have been widely used recently. In those systems, because the reserve price is provided by the buyer, the success rate can be decreased if the reserve price is set too low compared with the normal price. Otherwise, an unsuitable successful bid can be made if the reserve price is set too high based on inaccurate information. Likewise, the seller's providing too high a bid price can deteriorate his/her own successful bid rate, whereas a successful bid with too low a price may make no profit in the sale. Therefore, pricing agents that recommend adequate prices based on the past buying and selling history data can be helpful. In this paper, we propose two kinds of agents. One suggests reserve prices to buyers based on the past buying history database of the system. The other recommends bid prices to a seller based on the past bidding history data of the company using the cost accounting theory. Through performance experiments, we show that the successful bid rate can increase by preventing buyers from making unreasonable reserve prices. Also, we show that, for the seller, the rate of successful bids with appropriate profits can increase. Using the pricing agents, we design and implement an XML-based group buying system.

• Journal of Information Technology Applications and Management
• /
• v.11 no.3
• /
• pp.23-33
• /
• 2004

Internet bid systems have been widely used recently. In those systems, the bid price is provided by the seller. When the bid price is set too high compared with the normal price, the successful bid rate can be decreased. Otherwise, when it is set too low based on inaccurate information, it can result in a successful bid with no profit at all. To resolve this problem, we propose an agent that automatically generates bid prices for sellers based on various costing methods such as the high-low point method, the scatter diagram method, and the learning curve method. Through performance experiments, we have found that the number of successful bids with appropriate profit can be increased using the bid pricing agent. Among the costing methods, the learning curve method has shown the best performance. Also, we discuss about how to design and implement the bid pricing agent.

• KSCE Journal of Civil and Environmental Engineering Research
• /
• v.26 no.5D
• /
• pp.849-859
• /
• 2006

Earnings of domestic enterprises are expected a serious damage because the lowest cost bid system and the current cost estimate system. In 2005 average successful bid rate for the lowest cost bid project is below 60%, this is not reach at the operating budget of enterprise. Many problems such as illegal construction, low price subcontract, chain enterprise loss com in to practice because of low successful bid rate. In addition earnings of the enterprises expected to be the minimum, because of enlarge execution of the current cost estimate system. This study tries to lend assistance by giving alternative for the construction enterprise by presenting the bid system, investigate and compare foreign system with domestic and analyze correlation of the lowest cost bid and the current cost estimate system.

• Asia-Pacific Journal of Business
• /
• v.13 no.1
• /
• pp.213-230
• /
• 2022

Purpose - The purpose of this study is to find out any potential factors for explanatory variables when calculating the virtual successful bid rate in case of no collusion. Design/methodology/approach - An empirical analysis was conducted in this study with a regression analysis that included 725 bid samples under the public construction technical type bidding. Findings - The result of the basic analysis showed that there are several factors affecting the successful bid rate. First, collusion variable; second, government variable; third, successful bidder design score variable and the number of bidder variable among bidding features; fourth, turnkey variable based on the alternative method; fifth, civil works variable and plant works variable based on building work; sixth, asset variable and the fourth-quarter performance difference variable. However, the technical proposal method variable among bidding features was found to be statistically insignificant in column(4). Research implications or Originality - The significance of this research is that new variable such as the government variable and the fourth-quarter performance difference variable were added in the regression model, which showed statistically significant research results.

• Communications for Statistical Applications and Methods
• /
• v.18 no.1
• /
• pp.23-34
• /
• 2011

Property auctions have become a new method for real estate investment because the property auction market grows in tandem with the growth of the real estate market. This study focused on the statistical model for predicting bid price rates which is the main index for participants in the real estate auction market. For estimating the monthly bid price rate, we proposed a new method to make up for the mean of regions and terms as well as to reduce the prediction error using a decision tree analysis. We also proposed a linear regression model to predict a bid price rate for individual auction property. We applied the proposed model to apartment auction property and tried to predict the bid price rate as well as categorize individual auction property into an auction grade.

• Journal of Internet Computing and Services
• /
• v.2 no.2
• /
• pp.95-103
• /
• 2001

This paper implements the desirable-bid price type bidding agent system that enables internet bidding between buyer and sellers efficiently in real Time. The agent system controls the bid-limit to approach successful desirable-bid price of a buyer. to reduce unsuccessful bid rate using fuzzy-based bid-limit inference method.

• Journal of the Korean Chemical Society
• /
• v.23 no.3
• /
• pp.180-185
• /
• 1979

Electrochemical reduction behavior from 2-butyne-1, 4-diol (BID) to 2-butene-1,4-diol (BED) by the use of various cathodes, such as Ti, Zr, Ni, Pt, Cu, Ag, Au, Zn, Hg, Pb and graphite has been studied. It has been found that cathodic polarization curve with metal of IB subgroup such as Cu, Ag and Au consisted of one wave in BID-alkaline solution, whereas it was not formed any wave in BED solution. Therefore, it was found that the cathode which was the most suitable in order to proceed in this reaction was Cu, Ag and Au. At cyclic voltammetry using a silver cathode in BID-alkaline solution, the current of the peak was proportional to square root of the sweep rate of potential and also proportional to concentration of BID. Activation energy was calculated for 3.75 kcal/mole from the plot of log $I_l$ vs. 1/T. Consequently, the reduction current of BID with a silver cathode in alkaline solution was found the diffusion current.

• Journal of the Korea Safety Management & Science
• /
• v.18 no.3
• /
• pp.17-24
• /
• 2016

The regulation for industrial accident rate level assessment of construction companies was introduced to the construction industry in the Republic of Korea since 1993 and has brought positive outcome on industrial accidents reduction at construction work sites. There were considerable decrease of industrial accident ratio and enforcing of contrators' safety organizations from the beginning of the regulation for industrial accident rate level assessment. In spite of these positive outcomes, there were some negative effects such as contractors' shrinking accident reports to keep good accident ratios since these figures had a great impact on pre-qualification stage of bidding when general contractors were competing for new construction projects. In addition, Comprehensive evaluation bid system, which replaces the lowest price bid system is applied to government-ordered construction projects since 2016. Comprehensive evaluation bid system includes construction company's accident rate as one of the evaluation items and carries out with the industrial accident rate level assessment of construction companies at the same time. The regulations of two systems have been called for improvement to unify these different procedures and standards which have led business stakeholders to confusion for several years. This study aims to devote on lessening shrinking accident reports and to reduce the waste of business stakeholders through changing the regulation for industrial accident rate level assessment.

• Management Science and Financial Engineering
• /
• v.18 no.2
• /
• pp.1-4
• /
• 2012

We study optimal trading strategy of a market maker with stock inventory. Following Avellaneda and Stoikov (2008), we assume the stock price follows a normal distribution. However, we take a constant expected rate of the stock return and assume that the stock volatility is an inverse function of the stock price level. We show that the optimal bid-ask spread of the market maker is wider for a higher expected rate of stock returns.

• International conference on construction engineering and project management
• /
• 2022.06a
• /
• pp.18-24
• /
• 2022

State highway agencies (SHAs) typically apply a competitive procurement procedure to select contractors for their design-bid-build projects. Since the level of competition affects construction bid prices and project outcomes, the Federal Highway Agency (FHWA) suggests SHAs seek ways to improve competition among contractors continuously. However, they rarely conduct an empirical assessment of the current competition level necessary to identify room for improvement. Besides the number of bidders on a project, other factors such as winning or losing rates among the contractors in previous projects can also indicate the degree of competition; only a few contractors may have won the majority of the projects in a specific region. However, few studies have investigated such factors. This paper proposes a network analysis-based approach to evaluating contractor competition levels of highway projects using historical bid tabulation data. The proposed method provides insights into overall competition levels, the determination of competitive contractors, and winning rate distribution among contractors.